Private equity firm purchases Fishbowl
Fishbowl Inc. has been purchased by Symphony Technology Group (STG), a Palo Alto, Calif.-based private equity firm. Financial terms of the deal were not disclosed.
Used by more than 70,000 restaurants, Alexandria-based Fishbowl provides a customer engagement platform to the restaurant industry. Marc Bala, STG managing director, and Adam Hendricks, STG vice president, will join Fishbowl’s board of directors.
STG is a private equity firm with $2 billion in assets under management. Its portfolio includes software, data and analytics companies.
“STG’s investment and strategic support will allow us to continue to scale our platform, empower restaurant brands to deliver successful customer experience and engagement, and revolutionize the restaurant industry,” Dev Ganesan, CEO of Fishbowl, said in a statement.
Fishbowl’s customer engagement platform analyzes data from many sources, including email, mobile, online ordering, reservations, and loyalty for restaurants. It is headquartered in Alexandria and has offices in the Silicon Valley, United Kingdom and India.
Canaccord Genuity acted as the exclusive financial advisor to Fishbowl.